Valley National Advisers Inc. lifted its holdings in shares of Constellation Brands, Inc. (NYSE:STZ – Get Rating) by 1.0% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 17,023 shares of the company’s stock after acquiring an additional 166 shares during the period. Constellation Brands accounts for approximately 0.9% of Valley National Advisers Inc.’s investment portfolio, making the stock its 26th biggest holding. Valley National Advisers Inc.’s holdings in Constellation Brands were worth $4,113,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also made changes to their positions in the business. Capital World Investors increased its position in Constellation Brands by 28.7% during the fourth quarter. Capital World Investors now owns 8,810,424 shares of the company’s stock worth $2,211,152,000 after buying an additional 1,967,115 shares during the period. Norges Bank acquired a new position in shares of Constellation Brands in the fourth quarter valued at approximately $371,552,000. Alliancebernstein L.P. increased its holdings in shares of Constellation Brands by 48.6% in the fourth quarter. Alliancebernstein L.P. now owns 2,885,267 shares of the company’s stock valued at $724,116,000 after purchasing an additional 943,872 shares during the period. Neuberger Berman Group LLC increased its holdings in shares of Constellation Brands by 53.3% in the first quarter. Neuberger Berman Group LLC now owns 1,428,539 shares of the company’s stock valued at $329,065,000 after purchasing an additional 496,542 shares during the period. Finally, Vanguard Group Inc. increased its holdings in shares of Constellation Brands by 2.6% in the first quarter. Vanguard Group Inc. now owns 12,601,280 shares of the company’s stock valued at $2,902,327,000 after purchasing an additional 313,344 shares during the period. Institutional investors and hedge funds own 73.86% of the company’s stock.
Analyst Ratings Changes
STZ has been the topic of a number of recent research reports. TheStreet lowered Constellation Brands from a “b” rating to a “c+” rating in a report on Tuesday. StockNews.com raised Constellation Brands from a “hold” rating to a “buy” rating in a report on Monday, June 20th. BMO Capital Markets initiated coverage on Constellation Brands in a report on Tuesday, August 2nd. They issued an “outperform” rating and a $290.00 target price on the stock. Barclays boosted their target price on Constellation Brands from $272.00 to $281.00 and gave the company an “overweight” rating in a report on Tuesday, July 5th. Finally, The Goldman Sachs Group restated a “buy” rating and issued a $275.00 price target on shares of Constellation Brands in a research note on Wednesday, June 29th. Four analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $272.73.
Insider Transactions at Constellation Brands
Constellation Brands Price Performance
STZ traded down $5.59 during trading on Friday, reaching $231.00. 63,643 shares of the stock were exchanged, compared to its average volume of 838,374. The business’s 50 day moving average price is $245.44 and its two-hundred day moving average price is $241.30. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.40 and a quick ratio of 0.70. The company has a market capitalization of $42.69 billion, a price-to-earnings ratio of 35.74, a P/E/G ratio of 1.99 and a beta of 1.01. Constellation Brands, Inc. has a 1 year low of $207.59 and a 1 year high of $261.52.
Constellation Brands (NYSE:STZ – Get Rating) last posted its earnings results on Thursday, June 30th. The company reported $2.66 EPS for the quarter, topping analysts’ consensus estimates of $2.51 by $0.15. The company had revenue of $2.36 billion for the quarter, compared to the consensus estimate of $2.16 billion. Constellation Brands had a return on equity of 17.19% and a net margin of 12.72%. Constellation Brands’s quarterly revenue was up 16.6% compared to the same quarter last year. During the same period in the previous year, the business earned $2.33 earnings per share. As a group, equities research analysts anticipate that Constellation Brands, Inc. will post 11.09 earnings per share for the current year.
Constellation Brands Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Wednesday, August 24th. Stockholders of record on Wednesday, August 10th were issued a $0.80 dividend. The ex-dividend date was Tuesday, August 9th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 1.39%. Constellation Brands’s dividend payout ratio (DPR) is 48.34%.
Constellation Brands Profile
Constellation Brands, Inc, together with its subsidiaries, produces, imports, markets, and sells beer, wine, and spirits in the United States, Canada, Mexico, New Zealand, and Italy. It provides beer primarily under the Corona Extra, Corona Premier, Corona Familiar, Corona Light, Corona Refresca, Corona Hard Seltzer, Modelo Especial, Modelo Negra, Modelo Chelada, Pacifico, and Victoria brands.
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